back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Australian virtual bank 86 400 partners with BioCatch to enhance security

By Edil Corneille

February 24, 2021

  • 86 400
  • Australia
Share

86 400, logo, neobank, smartbank, Australia, BioCatch, biometrics, security, fraudAustralia’s smartbank, 86 400, has integrated a new solution from BioCatch, a behavioural biometrics company, to provide its customers with enhanced security and protection from fraud.

Using machine learning and advanced behavioural biometrics to monitor elements such as device orientation, typing speed and swipe patterns, BioCatch can distinguish suspicious and potentially fraudulent activity from genuine user movements, without adding any friction to the experience.

This technology is said to work silently behind-the-scenes to help prevent account fraud when onboarding new customers. It provides protection against potential account takeovers and phishing scams.

86 400 CRO Guy Harding enunciated, “Our customers love how easy it is to bank with 86 400, including our incredibly fast onboarding experience. Partnering with a fellow tech innovator like BioCatch gives us best-in-class protection from impersonation fraud, without compromising our market-leading experience – particularly our two minute onboarding for new customers.”

BioCatch has been designed with customer experience at its core and the 86 400 team was able to integrate this technology in 4 weeks.

BioCatch CEO Howard Edelstein elucidated, “In today’s increasingly digital world, detecting and preventing fraud is more important than ever. Our unique approach and behavioural insights are helping innovators like 86 400 to prevent fraud without getting in the way of the customer experience. We are excited about the future of this partnership and the potential to expand BioCatch’s protection throughout the entire customer experience.”

86 400 is a virtual bank, also called a neobank, that uses the latest technology, free from legacy systems, with advanced in-built protection and detection mechanisms. Digital banks such as 86 400 help customers conduct banking transactions where the requirement of visiting a physical bank branch is eliminated.

Tel Aviv-based BioCatch is a digital identity company that delivers behavioural biometrics, analysing human-device interactions to protect users and precious data.

Previous Article

February 24, 2021

Deutsche Bank and Mastercard expand partnership to boost digital payment innovations

Read More
Next Article

February 25, 2021

Versabank to introduce VCAD, Bank-issued, deposit-based digital currency

Read More










IBSi Daily News Analysis

The Weekly Wrap

October 07, 2022

86 400

The Weekly Wrap: all you need to know by Friday COB | Oct 7th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 06, 2022

Mastercard and Ravelin partner to reduce fraud

Read More

September 29, 2022

ThetaRay launches new software version on its SONAR AML Solution

Read More

September 21, 2022

GoCardless launches its first open banking-powered feature in France

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022